CENTRAL BANKING VOL. XIX. 1

Published on 4 August, Central Banking Volume 19.1 features two exclusive interviews: Dr Zeti Akhtar Aziz, the governor of Bank Negara Malaysia, explains why the country's banks have withstood the credit crunch and Otmar Issing, the architect of the ECB's monetary pillar, assesses central bankers' response to therecent market turmoil and the implications for the future conduct of monetary policy. Hui Feng explains how Beijing's response to rising inflationary pressures has resulted in power struggle between the central bank and other economic policymaking authorities and Isabella Bufacchi reports from Rome on Mario Draghi's battle to reform the Bank of Italy.

• Contents
• Beijing's inflation battle - Hui Feng
• Reforming the financial system - Dino Kos
• Monetary policy and the crunch - Glenn Hubbard
• Interviews - Zeti Akhtar Aziz and Otmar Issing
• Reforming the Bank of Italy - Isabella Bufacchi

CENTRAL BANKING VOL. XVIII. 4

In an exclusive interview in the latest edition of Central Banking, published on 14 May, Robert Shiller points the finger of blame for the credit crisis at the Fed, but calls for more securitisation of financial products. Dwight Jaffee and Mark Perlow argue that a major regulatory overhaul of the investment banking industry is needed in the wake of the Bear Stearns rescue. Thomas Jordan of the Swiss National Bank assesses the impact of the credit crunch on central bank reserve managers, while Jacques de Larosière outlines the priorities for fixing global financial markets. The journal also includes coverage of leading debates surrounding central bankers and the credit crunch, and we take a closer look at the new governor of the Bank of Japan and the turmoil leading up to his appointment.

• Contents
• America’s investment banks - Dwight Jaffee and Mark Perlow
• Getting back in track - Jacques de Larosière
• Reserve management and the credit crunch – Thomas J. Jordan
• Interview: Robert Shiller
• The new face at the Bank of Japan

CENTRAL BANKING VOL. XVIII. 3

The latest edition of Central Banking, published on XX February, includes a special feature on “Value for money: financial accountability for central banks”. The feature contains expert articles by, amongst others, John Mendzela, Kenneth Sullivan and Clifford Smout on the need for central banks to publicly demonstrate sound financial management. Andrew Peaple profiles China’s new economic policymakers, while Jacques de Larosière suggests that the rising power of emerging markets calls for fundamental changes to the international financial architecture. Malan Rietveld analyses the rising profile of sovereign wealth funds, while Andrew Rozanov and Matt Sekerke stress that the emergence of these funds have to be seen in context of sovereign liabilities and monetary- and exchange-rate policies.

• Contents
• China’s new policymakers – Andrew Peaple
• Value for money in central banks – special feature
• Reserve management and the credit crunch – Thomas J. Jordan
• Sovereign wealth – Andrew Rozanov and Matt Sekerke
• Credit crunch – phase two

CENTRAL BANKING VOL. XVIII. 2

The November 2007 edition of Central Banking includes a special feature on “The global credit crisis of 2007”, with articles by Stephen Cecchetti, Marco Annunziata, Avinash Persaud and Tim Young. Mansoor Mohi-uddin defends the Reserve Bank of New Zealand’s controversial intervention to weaken the kiwi dollar. We also focus on the evolving policy framework of the Federal Reserve, with articles by John Wood and Marvin Goodfriend. Malan Rietveld profiles the emergence of the Bernanke Fed and interviews Michael Woodford. Contents The global credit crisis – special feature Focus on the Fed In Bollard’s defence – Mansoor Mohi-uddin Interview: Michael Woodford

• Contents
• The global credit crisis – special feature
• Focus on the Fed
• In Bollard’s defence – Mansoor Mohi-uddin
• Interview: Michael Woodford

CENTRAL BANKING VOL. XVIII. 1

The latest edition of Central Banking, published on XX February, includes a special feature on “Value for money: financial accountability for central banks”. The feature contains expert articles by, amongst others, Published on 3 August, Central Banking VXIII.1 includes a special feature on the economic governance of the euro, with contributions from Jacques de Larosiere, Angel Ubide, Lorenzo Bini Smaghi and Joachim Bitterlich. Rodney Dickens argues that New Zealand’s break with the Brash era could prove costly, George Abed, the governor of the Palestine Monetary Authority, explains how the institution is rebuilding and Klaus Engelen is sceptical of fundamental reform at a Fund in crisis.

• Contents
• The economic governance of the euro
• Breaking with the Brash era – Rodney Dickens
• Building the PMA – George Abed
• Reforming the Fund – Klaus Engelen

CENTRAL BANKING VOL. XVII. 4

In the May 2007 edition of Central Banking we reflect on 10 years of independence at the Bank of England, with contributions by Adam Posen, Christian de Boissieu and Stephen King. In an exclusive interview, Ajith Nivard Cabraal, the governor of the Central Bank of Sri Lanka, discusses the possible introduction of inflation targeting. Recent legal and market developments have alerted public authorities and industry bodies to the perils of liquidity risk, write Stefan Schmitz and Andreas Ittner. Toshio Idesawa of the Bank of Japan explains the central bank’s approach to reseve management.

• Contents
• Bank of England: ten years of independence – special feauture
• Liquidity risk in focus – Stefan Schmitz and Andreas Ittner
• Japan’s reserves – Toshio Idesawa
• Management commentary for financial statement – Robin Darbyshire
• Interviews: Ajith Nivard Cabraal and Ivan Iskrov

CENTRAL BANKING VOL. XVII. 3

In the Febuary 2007 edition of the journal, we interview the new Nobel Prize winner in economics, Edmund Phelps, who tells Malan Rietveld that central bankers should retain a healthy degree of discretion. Charles Goodhart examines the case for and against delaying a bank closure, while Christian Noyer, the governor of the Banque de France, explains why money retains a prominent role in monetary policy in the Eurosystem. Malan Rietveld profiles Frederic Mishkin of Board of Governor of the Federal Reserve.

• Contents
• Interview: Edmund Phelps
• Prevention is better than cure – Charles Goodhart
• Money in policymaking – Christian Noyer
• China’s new reserve strategy – Hui Feng
• Profile: Frederic Mishkin

CENTRAL BANKING VOL. XVII. 2

Central Banking VXII.2 includes a special feature on eurozone monetary policy: Manfred Neumann, Jean-Michel Six, Thorsten Polleit and Philip Lane investigate if the ECB is on the right track. David Hale explains how Ben Bernanke has set out his stall as the Fed chairman and William Keegan looks back on three decades of often-rancorous meetings of the IMF and World Bank.

• Contents
• Fund memories - William Keegan
• Bernanke sets out his stall – David Hale
• Is the ECB on the right track? – Manfred Neumann, Jean-Michel Six, Thorsten Polleit and Philip Lane
• Policies have not been too loose – Bill Allen
• Ian Macfarlane looks back – Stephen Bell
  
  

CENTRAL BANKING VOL. XVII. 1

Central Banking journal XVII.1 includes an exclusive article from Hui Feng on the role of the People's Bank in driving financial reforms in China. Marc Uzan and Alexander Swoboda set out what to expect from that IMF's meetings in Singapore, and Charles Proctor looks at whether sovereign immunity applies to central bank reserves.

• Contents
• Behind China's Reform Drive - Hui Feng on the broad role of the People's Bank
• What to expect from Singapore - Marc Uzan and Alexander Swoboda on the IMF
• How safe are your reserves? - Charles Proctor
• New inflation dynamics - Stephen Roach and John Nugee
  

CENTRAL BANKING VOL. XVI. 4

Central Banking journal XVI.4 includes a special feature on global imbalances with articles from Jacques de Larosiere, Richard Portes, Charles Wyplosz, Yung Chul Park and Angel Ubide. Good management practice in central banks is the focus of an article by John Mendzela, Jeremy Foster calls on central banks to adopt more of the governance standards now required in the private sector and Mohamed El-Erian discusses reform of the IMF.

• Contents
• Re-inventing the IMF- Opinion and Mohamed El-Erian interview
• Close the governance gap - Jeremy Foster
• The debate on global imbalances - Special feature
• How to run your central bank - John Mendzela
• Which inflation target? - A report
  
  

CENTRAL BANKING VOL. XVI. 3

Central Banking journal Volume XVI.3 includes an exclusive article by Allan Meltzer looking back on Greenspan’s legacy. Sir Andrew Large calls on policymakers to focus on global liquidity risks and Francesco Papadia rejects recent criticism of the ECB’s collateral framework. From Rome, Isabella Bufacchi profiles the new Banca d’Italia and Andrew Smithers sets out the policy dilemma facing Japan’s central bank as the economy emerges from a decade of deflation.

• Contents
• Greenspan’s legacy - Allan Meltzer
• Liquidity risk in focus - Sir Andrew Large
• ECB’s collateral framework - Francesco Papadia
• The new Banca d’Italia - Isabella Bufacchi
• Tokyo’s high-wire act - Andrew Smithers
  
  

CENTRAL BANKING VOL. XVI. 2

In the November issue of Central Banking journal, Edward Gramlich, who recently retired as Federal Reserve governor, gives an insider's view of the Greenspan Fed. Published on Friday 11th, the issue also includes an exclusive interview with Lars Heikensten, the governor of Sweden 's central bank, and a special Central Banking report comparing staff costs across OECD central banks. Dan Gerstenfeld reports on Stanley Fischer's ambitious plans to reform the Bank of Israel, David Ruffley discusses the Bank of England's accountability and Jan Frait explains how the Czech National Bank manages with negative capital.

• Contents
• The Greenspan Fed -- An insider's view
• Modernising central banks
• Bernanke on Bernanke
• Fischer wows Israel
• Lars Heikensten -- Interview

CENTRAL BANKING VOL. XVI.1

The new issue of Central Banking journal, published on Monday August 15, includes an exclusive interview with Kenneth Clarke as part of a special issue on: the euro at risk. Also in the special issue, Henrik Enderlein makes the case for the ECB to shift its policy focus away from the eurozone as a whole, Charles Goodhart writes an open letter to Jean-Claude Trichet and Marietta Kurm-Engels profiles Axel Weber's first year in charge at the Bundesbank. The issue also includes an interview with Li Ruogu on China's exchange rate reform and comment on the policy shift from Steve Hanke and David Hale. Martin Redrado explains how Argentina's central bank can keep inflation down as the economy recovers.

• Contents
• The euro at risk – Kenneth Clarke, Charles Goodhart, Henrik Enderlein, Marietta Kurm-Engels
• China's reforms – Li Ruogu, Steve Hanke, David Hale
• Accounting Puzzles – Gold and IFRS
• Argentina recovers – Martin Redrado

CENTRAL BANKING VOL. XV.4

Central Banking journal Volume XV.4 includes an exclusive interview with David Dodge, governor of the Bank of Canada. Ronald McKinnon explains how the world is trapped by an international dollar standard and Robert Sleeper analyses the growing risks on central banks' balance sheet. An article by Andrew Rozanov surveys sovereign wealth management..

• Contents
• David Dodge – Exclusive interview
• Special feature: International money
• Sovereign Wealth Management – A survey
• Central bankers' cosy retreat – Harold James
• Balance sheet risks – Robert Sleeper

CENTRAL BANKING VOL. XV.3

Central Banking journal Volume XV.3 includes an exclusive interview Seung Park, governor of the Bank of Korea. Andrew Haldane of the Bank of England discusses a framework for financial stability and Professor Alexander Swoboda assesses the risks to the world economy.  A special feature looks at what is needed for successful management of IT in central banks.

• Contents
• Korea fights back- Seung Park
• Alexander Swoboda – Exclusive interview
• A framework for financial stability – Andrew Haldane
• Politicians’ itch to interfere – a survey of some recent incidents
• Central bank IT – Guest editor Bruce Summers
  
  

The November issue of Central Banking includes an exclusive interview with Jacques de Larosière, a former managing director of the IMF and governor of the Banque de France. Professor Ronald McKinnon explains why policymakers need to better understand today’s ‘dollar standard’ if they are to prevent adding to instability. Bill Allen, a former director at the Bank of England, examines the Bank’s new monetary-operations, Robert Aliber proposes a new way to look at liquidity management and Robert Pringle gives an outsider’s view on financial stability: should central banks take “responsibility” for it?

• Contents
• Financial stability – the new frontier
• Jacques de Larosière, Ronald McKinnon
• Robert Aliber, Bill Allen
• Robert Pringle
  

CENTRAL BANKING VOL. XV.1

Central Banking volume XV.1 includes an exclusive interview Y.V. Reddy, governor of the Reserve Bank of India. Professor Christian de Boisseu, an economic adviser to the French prime minister, explains why the eurogroup should have a stronger voice. The successful reconstruction of the Central Bank of Iraq is the subject of a special report, Henry Schiffman, looks at what central banks can learn from corporate governance in the private sector, and Jeremy Foster examines how central banks can improve their financial reporting.

• Contents
• India’s Reddy
• Iraq’s new central bank – special report
• Reagan – monetarist champion
• The euro’s governance gap – Christian de Boissieu
• Mongolia’s success

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